Ghana: IMF and private support help cope with financing needs

March 30 2017

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Annual average GDP growth was above +5.5% in 2000-10. Albeit being a relatively good expansion rate of expansion it is just about the pace required for a country like Ghana to make positive advances in socio-economic development.

Gold, cocoa and forestry industries and associated exports are the key sectors. Since 2011, when oil output came on stream at the Jubilee oilfield, GDP has been boosted by the energy sector, with a +14% expansion that year. The drive weakened in 2012 and 2013 but annual GDP growth remained above +7% in both years. Since then, growth has decreased, due to weaker commodity prices.